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Sales promotion uses both media and non-media marketing communications for a predetermined, limited time to increase consumer demand, stimulate market demand or improve product availability. Examples include contests , coupons , freebies , loss leaders , point of purchase displays, premiums , prizes , product samples , and rebates .
The aim of promotion is to increase brand awareness, create interest, generate sales or create brand loyalty. It is one of the basic elements of the market mix, which includes the four Ps, i.e., product, price, place, and promotion. [1] Promotion is also one of the elements in the promotional mix or promotional plan.
Sales Promotion is media and non-media marketing communication used for a predetermined limited time to increase consumer demand, stimulate market demand or improve product availability. Examples include coupons, sweepstakes, contests, product samples, rebates, tie-ins, self-liquidating premiums, trade shows, trade-ins, and exhibitions.
The economist Alex Tabarrok has argued, that the success of this promotion lies in the fact that consumers value the first unit significantly more than the second one. So compared to a seemingly equivalent "Half price off" promotion, they may only buy one item at half price, because the value they attach to the second unit is lower than even the discounted price.
Seasonal Sales promotion. These are price reductions given when an order is placed in a slack period (example: purchasing skis in April in the northern hemisphere, or in September in the southern hemisphere). On a shorter time scale, a happy hour may fall in this category. Retailers organize big discounts on almost every season in order to make ...
Trade Promotion is a marketing technique aimed at increasing demand for products in retail stores based on special pricing, display fixtures, demonstrations, value-added bonuses, no-obligation gifts, and more. [2] Trade Promotions can offer several benefits to businesses. Retail stores can be an extremely competitive environment; trade ...
Rebate (marketing) In marketing, a rebate is a form of buying discount and is an amount paid by way of reduction, return, or refund that is paid retrospectively. It is a type of sales promotion that marketers use primarily as incentives or supplements to product sales. Rebates are also used as a means of enticing price-sensitive consumers into ...
Point of sale display. A point-of-sale display (POS display) is a specialised form of sales promotion that is found near, on, or next to a checkout counter (the "point of sale"). They are intended to draw the customers' attention to products, which may be new products, or on special offer, and are also used to promote special events, e.g ...